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Compute net cash provided by operating activities using the direct method. A recent income statement for McDonald's Corporation shows cost of goods sold $5, 586.1
Compute net cash provided by operating activities using the direct method. A recent income statement for McDonald's Corporation shows cost of goods sold $5, 586.1 million and operating expenses (including depreciation expense of $1, 207.8 million) $11, 493.4 million. The comparative balance sheet for the year shows that inventory decreased $13.8 million, prepaid expenses decreased $10.4 million, accounts payable (merchandise suppliers) decreased $3.7 million, and accrued expenses payable decreased $2.3 million. Using the direct method, compute cash payments to suppliers and cash payments for operating expenses
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